they DID kinda answer WHY it was there.. th island has birth issues due to what most of us called back when we found out it had birth issues, the EMF messed up the development of the fetus.. so I have to assume, the statue was a plea to the fertility godess to help them...

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I think it's an open question whether there were birth issues on the island before the incident. Certainly Ethan was born with no problem. I don't think there is a connection between that an the statue, that was always just fan speculation. It might have been for fertility purposes, but there have been many fertility rituals without the pregnancy issues we saw on the show.